Magic Johnson Fast Facts

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Updated 2:11 PM ET, Wed July 26, 2017

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Magic Johnson – Being a major league athlete -- even a superstar major league athlete -- is no guarantee of success at major league team ownership. As one of the new owners of the Los Angeles Dodgers, though, basketball great Magic Johnson is going to give it a shot. Here are a few of his colleagues who made the crossover, for better or worse:

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Connie Mack – The "Tall Tactician" owned part or all of the Philadelphia A's from the team's founding in 1901 until 1954, when he sold the team to Arnold Johnson. Before his ownership stint, Connie Mack had an 11-year career as a catcher in the National League. Thanks to his 50 years of managing the A's -- and two years managing the Pirates in the 1890s -- he holds major league managing records for games won and lost.

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George Halas – Though far from a superstar, George Halas played in 12 Major League Baseball games in 1919. The next year, he joined the Decatur Staleys football team. In 1921, he bought the squad and moved it to Chicago, where it became the Bears. For several years, "Papa Bear" was everything -- owner, player, coach, manager and ticket-seller -- and stayed on as coach long after his playing days ended. His family still controls the team.

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Rogers Hornsby – The Hall of Fame hitter bought a portion of the St. Louis Cardinals in 1925 and became the team's manager. At the end of 1926, fresh off a world championship, he became embroiled in a contract dispute with owner Sam Breadon and was traded to the Giants. The National League president said Hornsby couldn't own stock in one team while playing for another, and Hornsby was forced to sell.

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Jerry Richardson – Though the Carolina Panthers owner had a short NFL career, it was a memorable one. As a Baltimore Colt, he caught a touchdown pass in the 1959 NFL championship game, the Colts' second straight title. And then, upset with his contract, he walked away to open a fast-food restaurant named Hardee's. More than 30 years later, a millionaire many times over, he bought into the NFL.

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Mario Lemieux – In 1999, the hockey Hall of Famer was the bankrupt Pittsburgh Penguins' biggest creditor. Mario Lemieux turned the situation to his advantage, buying the team, keeping it in Pittsburgh and returning to play for it until 2006, when he retired. Thanks to an influx of good players, especially Sidney Crosby, the team won a Stanley Cup in 2009.

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Wayne Gretsky – Fellow NHL star Wayne Gretzky has had a rougher ride than his old rival Lemieux. After the Great One became a part-owner of the Phoenix Coyotes in 2001, the team struggled in the standings -- even more after Gretzky became coach in 2005. Amid financial turmoil, he stepped down as coach and owner in 2009.

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Michael Jordan – Greatest of all time? Maybe as a player -- six championship rings and all that -- but as the owner of the Charlotte Bobcats, Jordan has had to watch his team go from a playoff berth in 2010 to a 7-43 record this season. He recently released a statement saying he's not thinking of selling the club.

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Cal Ripken Jr. – It's a bit of a cheat -- Cal Ripken Jr. doesn't own any Major League teams -- but the renowned former Oriole, known for his robust work ethic and his consecutive games streak, oversees three Minor League teams: the Aberdeen (Maryland) IronBirds, the Augusta (Georgia) GreenJackets and the Charlotte (Florida) Stone Crabs.

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Nolan Ryan – The greatest strikeout pitcher of all time, with seven no-hitters and 324 wins to his credit, became the owner of the Texas Rangers in 2010 after serving two years as team president. The club has won two straight American League pennants and is a widely touted playoff favorite in 2012.

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(CNN)Here's a look at the life of entrepreneur, philanthropist and NBA Hall of Fame point guard Magic Johnson.

Has explained that the way he contracted HIV was through sexual encounters with multiple female partners in the 1980s.

He is CEO of Magic Johnson Enterprises, which owns radio stations, movie theaters, magazines, real estate, a cable network, sports teams, and invests in corporate partnerships.

Johnson is also the chairman and CEO of the Magic Johnson Foundation, which was created to assist in the fight against HIV/AIDS through awareness, prevention and education.

Timeline:1974 - Earns the nickname "Magic" after a game his sophomore year of high school, in which he scores 36 points, 18 rebounds and 16 assists. Lansing State Journal sportswriter Fred Stabley Jr. is the first to call him Magic.

1975-1977 - Is named to the All-State team and leads his team to a state championship. He is heavily recruited by college basketball programs nationwide and chooses Michigan State University in East Lansing.

1978 - The Michigan State Spartans win the Big Ten Championship.

March 26, 1979 - MSU wins its first NCAA Championship. The Spartans defeat Larry Bird and the Indiana State University Sycamores, 75-64. Johnson is named MVP.

1979 - Johnson leaves Michigan State to turn pro. He is the NBA first overall draft pick and is selected by the Los Angeles Lakers.

1980 - At 20 years old, Johnson is the youngest and the first rookie named the NBA Finals MVP. The Lakers win 4-2 over the Philadelphia 76ers.

1982 - Is named Finals MVP after a 4-2 win over the Philadelphia 76ers.

1987 - Is named Finals MVP after a 4-2 win over Bird and the Boston Celtics. He is also named League MVP.

1987 - Magic Johnson Enterprises is founded. Johnson is the chairman and CEO.

1988 - Johnson's fifth NBA championship is the Lakers second championship win in two years, a 4-3 win over the Detroit Pistons.

November 7, 1991 - In a nationally televised press conference Johnson announces he is HIV positive and is retiring from the Lakers effective immediately.

November 1991 - Establishes the Magic Johnson Foundation.

February 9, 1992 - Voted to the NBA All-Star game for the Western Conference by fans even though he had not played in a game that season. Is named MVP, with 25 points, three three-pointers, nine assists and five rebounds; the West beats the East 153-113.

February 16, 1992 - The Lakers officially retire his number 32 jersey.

September 29, 1992 - Announces he will come out of retirement and play in the 1992-1993 season for the Lakers.

November 2, 1992 - Announceshe is again retiring from basketball, due to the many NBA players voicing concern over possible health risks associated with such a high contact sport and Magic's HIV status.

November 3, 1992 - Publishes his autobiography, "My Life."

March 23, 1993-April 24, 1994 - Head coach of the Lakers.

June 27, 1994 - Becomes 5% owner of the Lakers.

January 30, 1996 - Returns again to play for the Lakers. In his first game, the Lakers defeat the Golden State Warriors 128-118. NBA rules prohibit players from owning a team. Prior to his return, Johnson sells his interest in the team.

May 14, 1996 - Third, and final NBA retirement: "I am going out on my terms..."

October 1996 - Buys back the minority share of the team he sold to majority owner Jerry Buss earlier in the year.

February 5, 2014 - WNBA announces Johnson and a group of investors are purchasing franchise Los Angeles Sparks.

March 2016 - Ranks 10th on Forbes' 2016 list of The Highest-Paid Retired Athletes with estimated earnings of $18 million in 2015.

February 21, 2017 - Johnson is named as the Lakers' president of basketball operations, as part of a restructuring plan. He will step away from his role at ESPN, where he was on the show "NBA Countdown."